< PreviousFRONT ROW FROM LEFT TO RIGHT: James M. Harder, Chairman, Bluffton, Ohio, Miriam E. Shirk, Goshen, Indiana, Andrew Dula, Lancaster, Pennsylvania, David C. Gautsche, President/CEO, Lancaster, Pennsylvania, Lori B. Miller, Archbold, Ohio, Jeremy C. Shue, Goshen, Indiana. SECOND ROW FROM LEFT TO RIGHT: Scott Miller, Defiance, Ohio, A. Pete Wyse, Wauseon, Ohio, Glennys H. Shouey, Mt. Crawford, Virginia, Gregory A. Edwards, Napoleon, Ohio. PRESIDENT’S TEAM BOARD OF DIRECTORS Vince Zaffiro Chief Information Officer Stephen Tucker General Counsel Matt Holden Chief Operating Officer Steve Schlechter General Manager, De Smet Farm Mutual Michael Zimmerman Vice President Claims Philip Shirk Chief Financial Officer David Gautsche President & CEO Kathy Good Vice President Product Development Kevin Filler Vice President Underwriting Bruce Brizzi Vice President Marketing GOODVILLE MUTUAL INSURANCE GROUP GOODVILLE MUTUAL INSURANCE GROUP PAGE 82023 FINANCIALS Assets20232022 Bonds$348,987,314 $314,060,142 Stocks91,443,637 80,788,602 Real Estate6,751,894 4,859,948 Cash & Short-term Investments22,288,516 18,692,633 Premiums Receivable44,473,474 31,514,770 Other Assets13,481,124 7,097,633 Total Assets$527,425,959 $457,013,728 Liabilities & Policyholders’ Surplus20232022 Reserve for Unpaid Losses$97,538,104 $77,442,876 Unearned Premiums131,639,121 90,194,921 Other Liabilities32,334,757 25,343,386 Total Liabilities$261,511,982 $192,981,183 Policyholders’ Surplus265,913,977 264,032,545 Total Liabilities & Surplus$527,425,959 $457,013,728 Underwriting Income20232022 Premiums Earned$279,923,255 $199,613,388 Loss & Loss Adjustment Expense215,432,789 137,372,185 Underwriting Expense86,582,479 60,098,220 Underwriting Gain/(Loss)($22,092,013)$2,142,983 Net Investment Income$14,551,909 $7,309,858 Other Income574,083 264,618 Federal Income (Tax) or Credit1,875,144 (2,821,576) Net Income/(Loss)($5,090,877)$6,895,883 Operating Ratios20232022 Losses Incurred to Premiums Earned76.9%68.8% Expense Incurred to Net Premiums Written27.7%29.0% Combined Loss and Expense Ratio104.6%97.8% $250 $350 $200 $300 $150 MILLIONS $50 $100 0 2023 + *20192020 20212022 $224,902,483 329 ,996, 160 $191,524,448 $199 ,229 ,497 $209 ,511, 75 6 2023 2022 2021 2020 2019 Millions 50 100150200250 300 $208,444,872 $273,759,822 $242,483,933 $265,913,977 $264,032,545 Direct Premium Written Policyholders’ Surplus Net Income (Loss) Expense Ratio / Combined Ratio 2023 + *2019202020212022 $7 ,462, 703 $26,292,064 $28,070 ,48 7 60 50 40 30 20 10 0 -10 MILLIONS ( $5,090 ,877 ) $6,895,883 *2019 202020212022 2023 + 140 120 100 80 60 40 20 0 PERCENT A GES 91.3 % 98.9 % 27 27 .3 % 90 .2 % 2 9.0 % 10 4.6 % 27 .7 % 29 .3 % 97 .8 % 27 2 9.0 % *Lancaster Mutual included from 2019 and forward. +DSFM & DSIC included from 2023 and forward. Combined Ratio Expense Ratio PAGE 9WWW.GOODVILLE.COM | WWW.LANCASTERMUTUAL.COM | WWW.DESMETFARMMUTUAL.COMNext >